Need Legal assistance and direction

[Guest fplearner2005]

Need some guidance regarding what legal action can we take & if any experienced lawyer can be referred.

My business may be a victim of a great scheme where by the insurance company screwed us up on selling products under a defined benefit plan (VEBA).

1) There seems to be a pattern whereby trustee companies were changed a few times so as to make alot of stuff untraceable and create confusion.

2) There appears to be a conflict of interest on several fronts between the agents & trustees.

3) In one scenario with an insurance company, Large amounts were paid to the agents & consultants by the insurance company directly from the insurance account, thus impacting the goals of the policies.

4) Also, in another situation ( with a different insurance company) , Whole Life policies were bought , and funding was done for several years as indicated in illustration. For few years, there were dividend payments. Then the insurance company stopped paying the dividends that led to the policies to go into extended term. The insurance company does not respond as to why the dividends were not payed for several years as per the contract. Thus the employees were screwed up on cash values that were supposed to grow for the whole life policies.

Any feedback regarding help, guidance, & pointing to an experienced lawyer who can look into this matter is appreciated.

[mbozek]

Need some guidance regarding what legal action can we take & if any experienced lawyer can be referred.

My business may be a victim of a great scheme where by the insurance company screwed us up on selling products under a defined benefit plan (VEBA).

1) There seems to be a pattern whereby trustee companies were changed a few times so as to make alot of stuff untraceable and create confusion.

2) There appears to be a conflict of interest on several fronts between the agents & trustees.

3) In one scenario with an insurance company, Large amounts were paid to the agents & consultants by the insurance company directly from the insurance account, thus impacting the goals of the policies.

4) Also, in another situation ( with a different insurance company) , Whole Life policies were bought , and funding was done for several years as indicated in illustration. For few years, there were dividend payments. Then the insurance company stopped paying the dividends that led to the policies to go into extended term. The insurance company does not respond as to why the dividends were not payed for several years as per the contract. Thus the employees were screwed up on cash values that were supposed to grow for the whole life policies.

Any feedback regarding help, guidance, & pointing to an experienced lawyer who can look into this matter is appreciated.

I am limiting my comments to #4: Under state insurance laws dividends are not guaranteed. Many insurance companies have reduced or ceased dividends because of decline in profits or changes in economy or need to increase reserves.

[GBurns]

I would think that the first person to go to would be the same person on whose legal advice you relied in making the decision to participate in this arrangement in the first place.

I also do not recall any insurance companies selling such arrangements. I recall them being sold by marketing groups. This could be why you are not getting a response from the insurance company. Check your documentation before you contact that legal adviser.

[Guest rex]

Doesn't lance wallace, who posts here, specialize in this.